Senior living developer Ingenia Communities Group (ASX: INA) has upgraded its FY18 EBIT guidance to exceed $48.5 million – up from previous guidance of between $45 million and $47 million.
Ingenia released several updates to investors this week, after its share price shot up 18% from $2.63 on June 20 to $3.11 on June 27, only to slide down 2.5% in early morning trade today to $3.03 at the time of writing.
Ingenia is forecast to make between 280 and 285 new home settlements for FY18 – up 33% on FY17, with 350 settlements expected to be delivered in FY19.
Ingenia’s successes come at the same time Aveo Group (ASX: AOG) is showing signs of a struggle.
Aveo’s share price has been on a downward trend since early May, dropping 4.1% today to $2.33 at the time of writing.
Elsewhere in the space Lifestyle Communities Limited (ASX: LIC) is on a share price incline of late, with Lifestyle shares up 0.6% to $5.93 at the time of writing while sector peer Gateway Lifestyle Group (ASX: GTY) hits the red, down 2.4% to $2.35.
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